Oklahoma Group supports measure to lower property tax cap from 5 percent to 3 percent
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Associated Press: Homeowners tired of seeing their property tax bills increase every year rallied at the state Capitol Wednesday to show support for legislation that would lower the cap on annual property tax hikes on homes from 5 percent to 3 percent. Holding signs that read "Senior Citizens Deserve More" and "How Do You Spell Relief - Property Tax Reform," homeowners urged members of the Oklahoma House to support Senate-passed legislation that would ask voters to limit increases in their property taxes when property values rise. "Stop piggin' out on our taxes," Stuart Jolly, state director of Americans for Prosperity, said as a man in a pig costume roamed around homeowners and lawmakers in the Capitol's fourth-floor rotunda. "They need to pass this bill for the taxpayers," Jolly said. "It's your home. It's your money." The proposal is opposed by the Oklahoma Education Association, a statewide teacher's group that believes further limiting local property tax increases will hurt schools, libraries and other tax-supported activities, said OEA Vice President Becky Felts. Property taxes on homes increase when assessments reflect an increase in the value of the property. Oklahoma voters approved the 5 percent cap on the size of the annual increases in a statewide referendum in 1996. The property tax measure by Sen. Jim Reynolds, R-Oklahoma City, would schedule a similar election to consider rolling it back to 3 percent.
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